prepare a cash budget using the receipt and disbursements approach.

Buster Enterprises' projected sales for the first four months of 2018 are given below: Jan. $380,000 Feb. $490,000 Mar $740,000 April $610,000 In addition actual sales for November and December of 2017 were $500,000 and $740,000 respectively. 40% of sales are collected in cash at time of sale, 50% are collected in the month following the sale, and the remaining 10% are collect din tese dm h following the sale. Cost of goods sold is 60% of sales purchases are made in the month prior to the sales, and payments for purchases are made in the month of the sale. Wages were 35% of sales and paid for in the month of sale. Additional income was interest income received in March of $5,000 and the sale of equipment in February for $25,000. Total other cash expenses are $40,000/month. The annual insurance was paid in February for $8,000 and quarterly property taxes were paid in March for $7,500. The company's cash balance as of December 31, 2017 will be $25,000. Using the cash receipts and disbursements method produce a cash budget for the first four months of 2018